Landlords and potential landlords with available properties in Dublin are being encouraged to lease or rent them to their local authority. This would mean no vacancy costs, no letting fees, no rent arrears and no day-to-day maintenance costs for periods of up to 20 years.
Furthermore, landlords will be offered guaranteed income of up to 92% of the market rent.
Assistant Chief Executive at Dublin City Council, Dick Brady said, “These schemes are aimed at landlords and potential landlords who want guaranteed rental income over either a short or extended time period. We have a number of options on offer for terms from one to 20 years.”
Depending on the scheme chosen, landlords may be offered rents of up to 92% of the market rate including rent reviews. They can be paid during vacancy periods and in certain schemes, the local authority takes responsibility for managing the tenancy including maintenance.”
There are schemes available for professional landlords who want to maximise income and also for those property owners wishing to be less directly involved with the letting. In all cases, we are offering guaranteed income. We will inspect the property promptly and landlords could be paid from that initial inspection.”